Pfizer's bid for Warner Lambert again holds out the prospect of creating one of those powerhouses, for the first time since the failed merger talks between Glaxo Wellcome and SmithKline Beecham. Bizarrely, it is again a bid for the anaemic American Home Products which has proved the catalyst. Pfizer made its offer only after Warner Lambert bid for AHP. Likewise, Sir Richard Sykes made his ultimately fruitless move on SmithKline Beecham only after SmithKline had agreed a merger with AHP.
If Pfizer pulls it off, Sir Richard will again be knocking on SmithKline's door, if indeed he hasn't already done so. Pfizer and Warner Lambert are both fast growing companies and together they would account for some 8 per cent of worldwide spending on pharmaceutical development. This would give a potentially huge lead over the nearest rivals in drug discovery, including SmithKline Beecham and Glaxo Wellcome. Events seem to be driving these two latter companies together with increasing force, personality clashes notwithstanding.Reuse content